An IDF official listed the new gun as key to the ground force’s Fire2025, a strategic investment plan for firepower that is lethal, longer in range and more precise, yet flexible enough for effective use across the operational spectrum.

But the final approval to initiate the program as part of the IDF’s Teuza (Valor) 2014-2018 plan is pending the outcome of workshops to be conducted this month by the IDF General Staff, according to Defense News.

If approved, the competition will likely involve a crew-saving, autonomously loaded 52-caliber cannon and 155mm barrel integrated on a refurbished or new, low-cost chassis, the report said.

The local companies say Elbit Systems, and state-owned Israel Aerospace Industries (IAI) and Israel Military Industries (IMI) are gearing up for the competition.

Union pension fund adviser CtW Investment Group said on Thursday Lyft Inc "faces an all-but-insurmountable barrier" to profitability due to issues with the ride-hailing company's pricing strategy and new regulations driving costs higher.

Comcast Corp said on Thursday it will launch a new internet streaming video service called Xfinity Flex, as the U.S. cable operator targets TV viewers who prefer watching content online over more expensive cable TV packages.

Tesla Inc filed a lawsuit on Thursday against a former engineer at the company, claiming he copied the source code for its Autopilot technology before joining a Chinese self-driving car startup in January.

Shares of semiconductor companies worldwide rose on Thursday, after U.S. chipmaker Micron Technology Inc predicted a recovery in a memory market saddled with oversupply as demand for mobile phones slows.